UK-based jet charter company Victor has raised US$20m in its Series B fundraising round, bolstered by a US$10m commitment from BP investment arm BP Ventures.
The funding will enable Victor to expand into a new transactional B2B marketplace, connecting suppliers, brokers and other service providers. Victor has already confirmed a commercial agreement with Air BP to become the preferred fuel supplier for the charters it arranges at Air BP locations. The charter firm will also grow its B2C service across new geographical territories.
Clive Jackson, CEO and founder, Victor, said, “I am proud to welcome BP Ventures as a strategic, cornerstone investor. Their track-record for identifying forward-thinking innovative businesses that can deliver sustained growth speaks for itself.
“Receiving backing from a major, legitimate institutional investor like BP is a strong endorsement of our management team and our strategic vision to reshape the general aviation market. This is a hugely exciting step forward in the company’s evolution.”
David Gilmour, vice president of BP’s group technology business development, added, “The digital revolution is changing the face of the energy industry and BP is at the forefront. BP Ventures has now completed five deals in less than a year. Victor’s business and ambition aligns with our priorities around digital innovation and low carbon.
“We look forward to advancing our relationship with Victor. We are committed to being a long-term value investor and strategic partner while encouraging Victor’s entrepreneurial spirit and drive.”
Victor, headquartered in London with offices in New York and California, has now raised US$44.45m of funding since its launch in 2011.